Markets bounces back, IT stocks lead rally,Sensex jumps 331 pts

Benchmark equity indices Sensex and Nifty rebounded on Friday after two days of losses and ended higher, tracking buying in blue-chip IT stocks and a rally in global markets. The 30-share BSE Sensex climbed 330.92 points, or 0.43 per cent, to settle at 77,264.51. During the day, it jumped 424.38 points, or 0.55 per cent, to 77,357.97. The 50-share NSE Nifty settled 84.80 points, or 0.35 per cent, higher at 24,175.65. 
Among the 30 Sensex firms, Tata Consultancy Services, Infosys, Tech Mahindra, HCL Tech, Titan and Eternal were the major winners. ICICI Bank, UltraTech Cement, Asian Paints and ITC were among the laggards. Brent crude, the global oil benchmark, dipped 0.17 per cent to USD 89.63 per barrel.
Strong gains in IT stocks helped Indian equities close higher on Friday. The sector was supported by Nvidia’s strong earnings and upbeat outlook, which reinforced optimism around sustained AI-related investments and benefited firms involved in enterprise AI deployment and workflow integration.
The rupee was trading around 95.401 against the US dollar, recovering from its intraday low of 95.55.
Investors are now watching comments from US Federal Reserve Chair Kevin Warsh at the Jackson Hole Symposium for clues on the outlook for inflation and global interest rates. His remarks could influence expectations around monetary policy in both global markets and India.

(Business Correspondent)